Market Data · Capitalization Rates
Cap Rates
Data center capitalization rates — stabilized net operating income over acquisition price — by market and deal structure.
Confidence
A Directly reported figure
B Estimated / Derived
C Regional inference / indirect estimate
D Not found / insufficient data
US markets (13)
13 MARKETS| Market | Segment / Process Type | Cap Rate / Metric | Confidence |
|---|---|---|---|
| National | Powered shell | ~5.0% | A |
| National | Turnkey | Mid-6% range | A |
| National | Powered shell | ~5.0% | A |
| National | Turnkey | Mid-6% range | A |
| National | Powered shell | 5.00% | B |
| National | Turnkey | 6.50% | B |
| National (going-in basis) | Blended/unspecified | 6.30% | C |
| National | Unspecified | 4.40% | C |
| National (REIT-implied) | Public market read-through | 5.15% | C |
| National (blended) | All segments blended | 5.54% | C |
| Weehawken (single transaction) | Turnkey, single-tenant | 6.00% | A |
| Philadelphia (single transaction) | Single-tenant | 6.44% | A |
| National (all-property, not DC-specific) | All property types | Sentiment: "past the peak" | C |
International markets (4)
4 MARKETS| Market | Segment / Process Type | Cap Rate / Metric | Confidence |
|---|---|---|---|
| FLAP-D (London, Frankfurt, Amsterdam, Paris, Dublin) | Not a cap rate -- capital markets proxy only | Prime powered land cost +82% since 2021 (EUR1.24M -> EUR2.26M per MW) | B |
| EMEA | Not found | No explicit yield/cap-rate % located | D |
| Asia Pacific (14 markets covered) | Yield-on-Cost (metric exists, values not extracted) | Not found -- report is gated | D |
| Asia Pacific | Direct investment volume (context, not a yield) | US$11.6 billion (2025), record high | B |